Sidebar menu rounded corners bottom graphic

Financial Evaluation

Financial Evaluation > Special Entities

Professional Employer Organizations

Filing Requirements

Pursuant to the North Carolina Professional Employer Organization Act, N.C.G.S. § 58-89A, that became effective January 1, 2005, Professional Employer Organizations are required to file certain miscellaneous and annual items as summarized below. The forms required are available here.

Annual Filing Requirements

Within 120 days after the end of each fiscal year, as required by G. S. 58-89A-70(d), each licensee shall file with the Commissioner the following:

  • Audited GAAP financial statements and Form PEO-06, (CEO and CFO Financial Statement Attestation), as required by and in accordance with G. S. 58-89A-60(b).
  • Any information required by G. S. 58-89A-60 for which there has been a change since the last or initial filing.
  • Annual filing fee, pursuant to G. S. 58-89A-65(b).
  • Any other information the Commissioner determines is needed.

Miscellaneous Filing Requirements

In addition to the annual filing requirements, other items that are required to be filed under N.C.G.S. § 58-89A follow:

  • File, no later than 10 days after discontinuance, Form PEO-13, (Notification of Change in Workers’ Compensation Insurance or Health Benefit Plan), and notify all affected client companies as required by G. S. 58-89A-115(d).

  • File within 30 days of change, Form PEO-10, (Notification of Change Report) to indicate-change in name of licensee-change in location of licensee’s primary business office-addition of business office in NC-deletion of business office in NC-change in location of a business office in NC-addition of controlling person-deletion of controlling person-any other material change in business structure, bankruptcy filing, any regulatory or judicial action against licensee, etc., as required by G. S. 58-89A-80(b)(c).

  • File within 30 days of initiation, Form PEO-11, (Notification of Initiation of Client Company Relationship), and notify licensee’s workers’ compensation carrier and the North Carolina Industrial commission of the initiation, as required by G. S. 58-89A-110(g).

  • File within 30 days of termination, Form PEO-12, (Notification of Termination of Client Company Relationship) and notify licensee’s workers’ compensation carrier and the North Carolina Industrial Commission of the termination as required by G. S. 58-89A-110(g).

  • File within 45 days after the end of each quarter of the fiscal year, as may be required by the Commissioner, a financial statement for the preceding quarter, not audited but in GAAP format and Form PEO-05, (Application/ Licensee Obligations Attestation), as required by G. S. 58-89A-70(e).

Questions

If you have any questions please contact Sonny Watts at (919) 807-6629 (sonny.watts@ncdoi.gov)